It's no secret that today's job market, in general, has become insanely competitive. But, in Toronto especially, it feels like an impossible wish to not only get a job offer but one that also pays six figures. Not to mention that the competition now has students in Ontario realizing they may need more than an undergraduate degree to get their dream salary. But, that isn't the case for all job sectors.
The industry with this particular dream job, which boasts a starting salary of $100,000 a year, is found in none other than the IT sector. You probably aren't that surprised, considering the world of technology has become a powerhouse for Canada's economy. But, that number alone was probably enough to make your jaw drop.
What's really crazy is that people are landing massive salaries in this field without advanced degrees. That's right - no MBA's, doctorates or any fancy post graduate degrees. Techies are coming out of their undergraduates and sliding into a job role with a healthy salary and opportunity to be a part of the growing tech world.
On top of that, keep in mind that right now according to Jonathan Ward, the man behind War Technology Talent, there is a mere 1% unemployment rate in the IT sector as of this year. A similarly low rate of 2.6% was found in 2017, even for more popular IT jobs that you would think would be harder to score.
Considering that the tech world has become extremely competitive with companies trying to outdo each other, corporations are willing to shell out big salaries in order to get the brightest employees they can grab.
Those employees can range from all kinds of different career backgrounds, considering companies can't just run with one type of employee. That includes people in banking, law, retail and insurance sectors where tech companies are looking to poach the brightest stars.
Though if you are following the cash, the job where you can expect a big payout is as a data scientist. The average salary of a data scientist in 2018, according to Indeed, is $104,000. Data scientists just starting out can expect a salary between the mid $50,000 to $70,000. But, in many cases, they reach the six-figure mark quite quickly.
Considering Colin Fraser, a data scientist at CHIMP noted that "it’s possible for someone to reach the six-figure mark straight out of school [with the floor of these jobs being] no less than $80,000 a year- and that's for junior level." It's clear that nobody in a data scientist role is going hungry right now.
Oddly enough because of Trump, there are more of these big salaries being thrown around in Canada than ever. Mainly because local tech superstars aren't able to cross the border to work thanks to his latest work laws, meaning Canadian talent is subject to staying in Canada to work. Which also means that companies are now given the upper hand to get the attention of Canadian tech geniuses in the making with inticing salaries.
Clearly, this means you may want to consider a degree change or figure out a way to slide into the IT world. There's obviously never been a better time to get involved in the technology universe!
Source: Global News